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CNB: Governor Michl Flags Ongoing Studies On Crypto Investments

CNB
EM BulletCzech RepublicBulletEmerging Market NewsCentral and Eastern Europe

Governor Ales Michl writes in a post on his X handle that "bitcoin (...) is a different story" compared to other crypto assets. In his view, "we central bankers should study it and explore the technology it is built on."

  • Michl has recently proposed that the CNB conducts an analysis of potentially investing part (up to 5%) of its international reserves in bitcoin, which was met with mixed reactions of senior economic officials.
  • "At the CNB Bank Board meeting on 30 January 2025, I tabled a proposal to analyse the possibility of creating a bitcoin test portfolio" in order to "learn about and try out this highly risky alternative asset."
  • "The Bank Board approved a proposal to analyse the options for investing in additional asset classes. Based on the results of the analysis, the Bank Board will then decide how to proceed further."
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Governor Ales Michl writes in a post on his X handle that "bitcoin (...) is a different story" compared to other crypto assets. In his view, "we central bankers should study it and explore the technology it is built on."

  • Michl has recently proposed that the CNB conducts an analysis of potentially investing part (up to 5%) of its international reserves in bitcoin, which was met with mixed reactions of senior economic officials.
  • "At the CNB Bank Board meeting on 30 January 2025, I tabled a proposal to analyse the possibility of creating a bitcoin test portfolio" in order to "learn about and try out this highly risky alternative asset."
  • "The Bank Board approved a proposal to analyse the options for investing in additional asset classes. Based on the results of the analysis, the Bank Board will then decide how to proceed further."